The market is expected to open flat to gap down and might test lower levels 17450 for NIFTY and 39500 in Bank Nifty. However, a profit booking will pull back the market to give bullish moventum for shorter timeframe. The market can further re-test these lower level and bounce back if there is strong support. In-case the support is broken then the market might see further selling. However, markets have been falling before Budget as usual behaviour every year. The only trade setup is to buy call option at lower level or sell put options at day high post confirmation of bearish downtrend signal.

Cover your naked calls and follow proper risk management strategies to avoid any loss.

Disclaimer: Trade at your own risk.